Debt is nearly unavoidable in today’s world. For some, medical debt, credit cards, personal loans, and other obligations become a burden that leaves them unable to care for their families. Chapter 7 may be an option to people in this situation. If debt is one of your largest stressors, this introduction to Chapter 7 bankruptcy may be helpful to you. [...]
Chapter 13 may be a viable option for you if you do not meet the requirements for Chapter 7 bankruptcy. Chapter 13 is also an option if there are certain assets you want to protect from bankruptcy. This blog will offer a brief guide to Chapter 13 bankruptcy. If Chapter 7 Bankruptcy Is Not an Option In many cases, debtors [...]
If your company is in the red and you are worried about creditors, fret not. There is a viable option to make the bankruptcy process easier to manage. One of the best available options is a pre-packaged bankruptcy. Pre-packaged bankruptcy is an alternative for companies considering bankruptcy. Throughout this procedure, creditor support is prepared for the company's bankruptcy plan prior [...]
With parts of the federal government shutdown today, and a compromise is still unsure, lots of federal government employees will be experiencing adverse economic effects. Federal government employees are expecting to sign furlough papers and return home. Nonetheless, many of them are still waiting to see the affects of their departments. About 800,000 workers are expected to be ordered to [...]
New Jersey bill A-4292 passed in the state senate in July 2018. It is currently in the hands of the New Jersey Assembly. If this bill becomes a law, it would essentially make it harder for victims of shady car deals to receive triple damages from the car dealer. Not only that, but it would slash attorneys’ fees in auto [...]
How Long Does Filing Chapter 7 Take? With mounting debt and the incessant calls from collectors, you should not delay sorting out your financial troubles. You might even consider filing for Chapter 7 bankruptcy. However, the most important concern for many is the Chapter 7 bankruptcy timeline. A Chapter 7 bankruptcy case typically takes 3-6 months to complete. It is [...]
What is Chapter 11 Bankruptcy? Chapter 11 bankruptcy is most thought of as the commercial bankruptcy option for businesses, sole proprietors and partnerships. And it involves a reorganization of a debtor's business affairs, debts, and assets. While the debts are being restructured, they liquidate assets and restructure payment plans with creditors. Chapter 11 is also available to individuals. However, not [...]
When we think of bankruptcy, we think of certain groups of the population. Most commonly, we think of students, younger individuals, and first-time homeowners. However, there is one segment of the American population that is catching up when it comes to filing for bankruptcy. That group is senior citizens. Every year, more and more senior citizens file for bankruptcy. Growing [...]
Student loan debt is growing exponentially. Many students with student loans may not be able to pay them back when the time comes. Student loan debt alone can force someone into bankruptcy. In addition, it can also easily compound on other debt such that a health crisis or job loss. Hence, sending your entire structure toppling down. It is not [...]
Many consumers who are drowning in debt fail to file for bankruptcy even through they need the relief desperately. We have met with people who are terrified at the thought of going bankrupt. They claim that the filing will stay on their credit report for the rest of their life. They fear that they will never be able to get [...]
